The preference of the two leagues would have been to bid out both the semifinal games and the national championship game, further boosting the potential revenue stemming from the matchups.

Instead, the commissioners and Notre Dame athletic director Jack Swarbrick will present a four-team playoff today to the presidential oversight committee that puts the semifinals in the framework of the current bowl system, and the championship game bid out.

The officials will give a 30-minute presentation today to the presidential oversight committee, followed by what is expected to be a lengthy question-and-answer session.

The Tribune source was confident that the university leaders would approve the officials’ proposal for a four-team seeded playoff. The officials are also recommending a 15-member selection committee that would help determine who would be in the playoffs.

Sporting News reported Monday that the deal could reach $5 billion over 10 years. Six bowls will rotate annually, with two hosting the semifinal games. The six bowls would include the BCS bowls—Rose, Sugar, Orange and Fiesta. The other two slots would go to either the Cotton Bowl, the Capital One Bowl or the new Champions Bowl, which pits top SEC and Big 12 teams.

The semifinals would be played on or around Jan. 1, with the championship game at a neutral site played a week to 10 days later.